Bear Stearns Issues Massive Equity Note In Japan

Bear Stearns recently structured a capital
guaranteed note in Japan, which at some USD500 million has gotten
equity professionals talking about the economy picking up. "This is
another indication that the business is coming back," said
Kin Sang Cheung, head
of equity derivatives trading at Bear Stearns in Tokyo.

The note was linked to an Asian index and offered
in several currencies, according to Cheung, who declined to
elaborate further.

"We expect to see even more customer flows coming
into the markets," added Cheung, noting that client interest
started increasing this summer in Japan on the back of the rally in
the Nikkei 225.